Guideline Value for SAMAYAPURAM ALL STREET

Samayapuram All Street guideline value

The current guideline value of Samayapuram All Street is Rs 3,030 per sq.ft, effective from 1 July 2024. This street is located in Karambakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Samayapuram All Street has changed

The guideline value of Samayapuram All Street has undergone several revisions over the years. In 2007, the guideline value was set at Rs 500 per sq.ft. This increased significantly to Rs 2,750 per sq.ft in 2012, marking a rise of 450%. However, the value dropped to Rs 1,842 per sq.ft in 2017, a decrease of 33%. The value then saw a substantial increase to Rs 2,750 per sq.ft in 2023, followed by a further rise to Rs 3,030 per sq.ft in 2024, which is an increase of 10% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 506%. It is important to note that there are no figures available for this street in the revisions of 2002 and 2003.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 1,930 per sq.ft, placing Samayapuram All Street's 2024 figure above that median.

• Samayapuram Nagar 1st Street: Rs 3,030 per sq.ft (2024)
• Samayapuram Nagar 2nd Street: Rs 3,030 per sq.ft (2024)
• Samayapuram Nagar 3rd Street: Rs 3,030 per sq.ft (2024)
• Samayapuram Nagar 4th Street: Rs 3,030 per sq.ft (2024)
• Samayapuram Nagar 5th Street: Rs 3,030 per sq.ft (2024)
• Samayapuram Nagar 6th Street: Rs 3,030 per sq.ft (2024)

Stamp duty and registration fee for property in Samayapuram All Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,030 per sq.ft, the total guideline value would be Rs 30,30,000. The stamp duty at 7% would amount to Rs 2,12,100, and the registration fee at 2% would be Rs 60,600. Together, the total cost for stamp duty and registration would be Rs 2,72,700. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Samayapuram All Street?

The Sub Registrar Office that covers Samayapuram All Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Karambakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Karambakkam. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value helps ensure that the transaction is documented at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Samayapuram All Street?

The current guideline value of Samayapuram All Street is Rs 3,030 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 500 per sq.ft to Rs 3,030 per sq.ft in 2024, marking an overall increase of 506% over the years.

What is the land classification for Samayapuram All Street?

Samayapuram All Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Samayapuram All Street?

The Sub Registrar Office for Samayapuram All Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Samayapuram All Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 2,12,100 at 7%.